Washington, September 6 News: The U.S. Department of Agriculture’s weekly export inspection report showed that last week’s U.S. soybean export inspections increased by 12.7% from a week ago and increased by 429.5% from the same period last year.

U.S. soybean export inspections were 495,845 tons for the week ended September 1, 2022, compared to 439,811 tons last week and 93,653 tons a year earlier.

So far, in 2022/23 (starting on September 1), the total amount of U.S. soybean export inspections has reached 49,582 tons, a year-on-year increase of 63.4%.

U.S. soybean export inspections reached 0.08 percent of the USDA’s forecast target.

In its August 2022 supply and demand report, the USDA forecast U.S. soybean exports in 2022/23 at 2.155 billion bushels (58.65 million tonnes), up from 2.135 billion bushels forecast in July.

U.S. soybean exports in 2021/22 were 2.160 billion bushels (58.79 million tonnes), down from the July forecast of 2.170 billion bushes and down 4.68% from the revised 2020/21 exports of 2.266 billion bushes.